• Composed of 14 large companies and led by Forética, the Task Force analyzes in a report the current context in terms of public policies and frameworks for action to move towards a circular economic model, the innovations that are being implemented at the business level and the funding opportunities at European and national level.

• As stated in the study, in order to achieve the development of a true ecosystem that makes possible the implementation of a more circular economic model, it is necessary to promote innovation in companies through four phases: redefining the purpose, identifying the scope, implementing their strategies and seeking the scalability of their innovations.

The Circular Economy Action Groupled by Forética and made up of 14 large companies -Airbus, Cerealto Siro, Ecoembes, EDP, Endesa, Epson, Grupo Antolín, LafargeHolcim, L'Oréal, Mahou San Miguel, Naturgy, Nestlé, Red Eléctrica de España and Saica-, presents a report which analyzes the importance of business innovation and financing as key levers to accelerate the circular transformation.

In the current context, 70% of all global greenhouse gas emissions are related to the handling and use of materials (according to data collected in The Circularity GAP Report 2022). Minimizing the extraction and use of raw materials by 28% would reduce greenhouse gas emissions by 39%, with the aim of complying with the Paris Agreement and not exceeding a temperature increase of more than 1.5°C by the end of the century, as highlighted in the same report. All this bearing in mind that, as the Organization for Economic Cooperation and Development (OECD) warns in its Global Material Resources Outlook to 2060, population and economic growth are on track to double global material consumption by 2060.

At the national level, our country is moving strategically towards a more sustainable model, with the roadmap set out in the 'Spain Circular 2030' Strategy, new public policies, such as the Waste and Contaminated Soil Law, as well as a wave of funding that will allow Spain to accelerate its progress in the circular transition, a key opportunity for companies in all sectors.

Ana Herrero, Director of Projects and Services at Forética, says: "The data from science shows us that there are urgent risks associated with the degradation of the planet, which put pressure on planetary boundaries and place us in a position of uncertainty. As the roadmap 'Vision 2050. The time for transformation' - recently launched within the framework of the Spanish Business Council for Sustainable Development -one of the key systemic transformations in the so-called 'Decade of Action' involves transforming the way we use products and materials. The circular economy is thus positioned as a response to the major environmental and social challenges we face, and we need the transition to be planned, innovative and scalable. Undoubtedly, the current context urges to promote this innovation by companies and boost access to financing as two very relevant elements in the progress towards circularity".

Ambition and entrepreneurial action towards a circular economic model

The report published by Forética in the framework of the Action Group analyzes the current and changing context in terms of public policies and frameworks for action to move towards a circular economic model, the innovations that companies are carrying out in terms of product, process and value chain, and the funding opportunities to ensure that Europe and, specifically Spain, can move towards a green and sustainable recovery.

Elena Ruiz, Manager of Forética's Circular Economy Action Group, highlights: "In terms of circular financing, the data show that we are still operating in a linear model and that, although there is a growing prominence in the financial sector of the circular economy (through green bonds or transition bonds, among other mechanisms), it still does not seem to be enough, both in quantity and in segmentation of key activities that allow us to break away from a linear production and consumption model. In this context, in order to achieve the development of a true ecosystem that makes possible the implementation of a more circular economic model, the Task Force stresses the importance of promoting innovation in companies through four phases: redefining the purpose, identifying the scope, implementing their strategies and seeking the scalability of their innovations. This roadmap will set the path to define an innovative and circular ecosystem that will allow us to articulate all the agents and make this change of model a reality".

The meeting organized by Forética within the framework of the Action Group was attended by the member companies of the Action Group, who shared their vision, experiences and management of the circular economy in their own organizations from the perspective of innovation, with the participation of Gema María Plaza, Environment area of Airbus; Carolina Martín, Head of Market Intelligence & Process Innovation at Cerealto Siro; Beatriz Aylagas, Head of CSR and Sustainability at Ecoembes; Ana Álvarez, Director of Environment at EDP Spain; Tomás Muñoz, Head of the Endesa Power Plant in Melilla; Enrique Fernández-Castaño, Standardization & Capacity Investments Manager for North America at Grupo Antolin; Javier Alández, Managing Director of Geocycle ( LafargeHolcim Group); Delia García, Director of Sustainability and CSR at L'Oréal Spain and Portugal; Cristina Pérez, Sustainability Project Manager at Mahou San Miguel; Nieves Cifuentes, Corporate Environmental Manager at Naturgy; Pedro Ruiz, Environmental Sustainability Specialist at Nestlé; Leticia González, Institutional Relations and Sustainability Manager at Red Eléctrica de España; and Myriam Portillo, Sales and Marketing Director for Spain and Portugal at Saica.

El Grupo de Acción en Economía Circular constituye el punto de encuentro empresarial de liderazgo, conocimiento y diálogo para poner en valor la importancia de desarrollar modelos de negocio circulares.

In previous editions, the Action Group presented a positioning document that includes a series of recommendations to accelerate business action towards a more circular Spain in 2030, articulated under three axes that will be key to the change of model that will allow progress towards a more circular ecosystem: improving governance, accelerating action and boosting impact alliances. In addition, Forética published the report 'Maximum circular ambition for the Decade of Action' within the framework of the Action Group.

In addition, the Task Force worked on addressing the business transition to the new plastics economy, with the following reports published: ' Business Ambition to Move to the New Plastics Economy' and 'The Reality of Plastics: Myths and Truths'. It also addressed metrics and indicators, after focusing on the circular economy business case, analyzing challenges and opportunities in this area, and collaborating with the WBCSD on the CEO guide on circular economy.

Read here the report 'Innovation and financing: the pillars for circular transformation' (link)